Soon or why not slowly accumulate at a lower price instead. 

Before the buying spree, we were trading around 50K shares average per day; to accumulate 10 million shares, for example, would take way too long.

As far as PP is concerned, maybe the new buyer is not convinced there will be one. Let's say the company does want to raise $1 million and issues a PP at 20 cents plus half a warrant. That works out to 5 million shares and 2.5 million warrants. EE will automatically subscribe to 60% of that, which leaves less than 3 million shares and warrants combined for everyone else, which is way short of the 10 million shares intended position. Imo, the new buyer had no other choice but to buy heavy and fast, despite the substantial raise in SP in order to reach the desired numnber of shares. And this brings me to my other point, for someone to buy such volume with no SP concern, his/her target exit price must be multiples from his 50 cent average paid to reach his desired number of shares. What that target exit price is based on at this time, we will probably never find out.